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National Bank spends $40.7 million on maintaining som’s exchange rate

The National Bank of Kyrgyzstan conducted two interventions last week. At least $40.7 million has been spent on maintaining the som’s exchange rate.

For the first time in five and a half months, the National Bank of the Kyrgyz Republic entered the foreign exchange market on September 27. Then it sold $33.1 million. The National Bank intervened for the second time on October 1, selling $7.6 million with settlements different from the date of the transaction.

In total, since the beginning of the year, the National Bank has conducted seven interventions, selling $311,150,000.

The National Bank of the Kyrgyz Republic enters the foreign exchange market with interventions to stabilize the situation in the foreign exchange market.